Proficio Capital Partners LLC Acquires New Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Proficio Capital Partners LLC bought a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,380 shares of the company's stock, valued at approximately $184,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alignment Healthcare during the third quarter worth approximately $131,000. Intech Investment Management LLC purchased a new position in shares of Alignment Healthcare in the 3rd quarter valued at $315,000. Charles Schwab Investment Management Inc. raised its stake in Alignment Healthcare by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company's stock worth $9,925,000 after acquiring an additional 13,865 shares in the last quarter. Algert Global LLC lifted its position in Alignment Healthcare by 44.8% in the third quarter. Algert Global LLC now owns 80,903 shares of the company's stock valued at $956,000 after acquiring an additional 25,050 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company's stock valued at $1,524,000 after acquiring an additional 73,402 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALHC. Piper Sandler raised their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Bank of America increased their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus increased their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Stephens restated an "overweight" rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and an average target price of $14.83.

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Insider Transactions at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the transaction, the chief executive officer now directly owns 2,273,100 shares of the company's stock, valued at $29,686,686. This represents a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Sebastian Burzacchi sold 6,694 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total transaction of $109,781.60. Following the completion of the sale, the chief operating officer now owns 250,378 shares of the company's stock, valued at $4,106,199.20. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,956,855 shares of company stock valued at $30,128,862. Corporate insiders own 6.60% of the company's stock.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock traded up $0.32 on Monday, reaching $18.62. 3,621,625 shares of the stock were exchanged, compared to its average volume of 1,499,850. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $3.57 billion, a PE ratio of -24.18 and a beta of 1.49. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $18.92. The business has a fifty day moving average price of $15.36 and a two-hundred day moving average price of $13.06.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.